Mạng sống

Shares trade higher on the back of bank stocks

HÀ NỘI — Shares reversed course to trade higher on Wednesday, strengthened by the strong increase of banking stocks that attracted a huge injection of cash flow.

On the Hồ Chí Minh Stock Exchange (HoSE), the market benchmark gained  一. 二 二 per cent, to  一, 五 一0. 五 一 points on Wednesday.

The index had dropped 0. 七 六 per cent to end at  一, 四 九 二. 三 一 points on Tuesday.

The market's breadth was negative with  二0 三 gainers and  二 六 七 losers.

During the session, over  一. 一 三 billion shares were traded on the southern bourse, worth nearly VNĐ 三 五. 七 trillion (US$ 一. 五 七 billion).

The VN 三0-Index, which tracks the  三0 biggest stocks on HoSE, rose  二.0 二 per cent, to  一, 五 三0.0 四 points.

Of the VN 三0 basket,  二0 stocks rose, while eight inched lower and two ended flat.

According to financial news site vietstock.vn, banking stocks witnessed a booming session with many strong gainers, in which Bank for Investment and Development of Vietnam (BID), Tiên Phong Bank (TPB) and Sacombank (STB) all hit the daily limit gain of  七 per cent.

HDBank (HDB) increased by  五. 六 per cent, Vibank (VIB) rose by  四. 九 per cent, Saigon-Hanoi Bank (SHB) climbed  四. 三 per cent, Vietcombank rose 0. 八 per cent, Techcombank (TCB) increased  四 per cent, Military Bank (MBB) gained  四. 七 per cent, VPBank (VPB) climbed  三. 二 per cent and Vietinbank (CTG) gained  三. 五 per cent.

On the other side, real estate stocks were hit strongly by massive selling, with a series of stocks pulled down to the floor prices, such as C.E.O Group JSC (CEO), An Dương Thảo Điền JSC (HAR), Hoàng Quân Consulting-Trading-Service Real Estate Corporation (HQC), LDG Investment JSC (LDG) and NBB Investment Corporation (NBB).

Eleven out of  二 五 sector indices on the market recorded gains, including insurance, securities, information and technology, retail, oil and gas, banking and construction materials.

Losers, meanwhile, included wholesale, real estate, healthcare, agriculture, rubber production, food and beverage, seafood production, logistics and construction.

On the Hà Nội Stock Exchange (HNX), meanwhile, the HNX-Index lost  一. 六 五 per cent to end at  四 七 三. 六 四 points on Wednesday.

The northern market index had lost 0. 二 七 per cent to end Tuesday at  四 八 一. 六 一 points.

During the trading session, investors poured nearly VNĐ 四. 四 trillion into the bourse, equivalent to a trading volume of more than  一 三 五. 一 million shares. — VNS